Skilled Manpower the Pressing Priority of the Upcoming India

Skilled Manpower the Pressing Priority of the Upcoming India

Skill development is a key component in addressing poverty reduction by improving employability and productivity and supporting sustainable enterprise development and inclusive growth. It promotes higher productivity, more job opportunities, higher incomes and a cycle of development. However, this is just one of many factors that affect productivity and is measured differently by individuals, businesses and economies. Increased productivity may be due to the availability of a skilled and healthy workforce, technological advances and innovative practices. A sound macroeconomic strategy. Productivity improvements can take the form of improved real gross domestic product (economy), increased profits (firms), and higher wages (workers). This section examines the relationship between skill development and productivity, focusing on India. But first, we need to understand what constitutes productivity and how it is measured at different levels. Read More Business News on our website.

Productivity, which explains the input/output ratio, is a key factor that allows profit to be distributed in a number of ways, including:  Improving workers’ wages and working conditions. Increased profits and dividends for shareholders. Processing the environment; increasing government revenues; This allows both the company and the country to remain competitive in the domestic and global markets respectively. There are many possible reasons for increased productivity, including: New technology, new machines, better management methods. Investments in factories, equipment and technology, occupational safety and improving worker skill levels. macroeconomic policy, Labor market conditions, the business environment, and public investment in infrastructure and education. It is therefore clear that skills development is only one component of productivity growth and needs to be an integral part of development policies. Policies must take into account the level of development and the needs and requirements of different sectors. In addition to this, eligibility policies should focus on improving access, quality and relevance of training for different segments and sectors. Evidence from developed countries shows that investments in education and skills are helping economies shift to higher-growth sectors and break the low-wage-skills-development syndrome.

Different countries at different stages of development face different challenges. In developing countries such as India, increasing synergies between employers and training providers on the one hand, increasing investment in training infrastructure and ensuring the informal economy has the resources it needs on the other and that entrepreneurship coaching is provided for moving to formal sector. The geographic point coaching plays associate degree im- portent role in productivity improvement however within the developing economies the massive informal economy poses a challenge that may be addressed by developing clusters or lead firm taking the initiative which might facilitate achieving economies of scale within the skills development; development of competencies at intervals and between companies and accessibility of lead firm facilities and this may build obtainable expert force by the lead firm as per its demand and also the little enterprise would improve their productivity.

India is a relatively young country compared to its neighbors. About 28 million young people join the Indian workforce each year. India’s unemployment rate was 6.1% in 2018, the highest in 45 years, according to an assessment conducted by the National Sample Survey Office. The country was already suffering from an economic slowdown when the COVID pandemic hit. The pandemic has completely disrupted the country’s economic climate.

The Government of India has launched several skill development schemes, but they are not enough to create opportunities for skill development education in India. Skill development programs should be emphasized to help individuals leverage their talents and knowledge. Today everyone wants to have a good career and for that they need proper training to develop their skills. It turns out to be an important part of every individual’s career.

National Apprenticeship Promotion Scheme ( NAPS ) acts as a route to recruit from the hard effects of COVID-19 lockdown on industries, will act as a medium to bounce back as a business and regain financial good health.

NAPS provides one the flexibility to recruit, train and evaluate the candidates’ suitability as a long-term employee. During apprenticeship one needs to pay a stipend and Government will subsidies this stipend. An apprentice is not a worker, so, no PF / ESIC contributions, terminate if the apprentice does not measure up to the expected standards, it is a scheme of Government of India to provide financial support to establishments undertaking the apprenticeship training. NAPS was launched on 19 August 2016. With a rising population, India needs to utilise the potentials of its vast human resources by empowering with the right skills to fuel an already rapidly growing and dynamic economy. A growing employment crisis has re- focused attention on the importance of cultivating employability by bringing on- the-job training and learning. At the same time, the employability of India’s youth is 45% primarily due to the shortage of relevant skills. The above scenario clearly depicts that India is not having a job problem, there is a relevant skill problem. The classic remedy for addressing the issues of talent shortage and skills gap is apprentices. If each MSMEs and start-ups engage a small portion of apprentices, both small portion of apprentices, both sectors have the potential to generate a huge amount of apprentices. The MSME sector especially the establishments with more than 30 employees and engaging 2.5% of apprentices of their total manpower alone has the potential to generate over 2.5mn apprentices. If MSMEs and start- ups have 10% of their workforce as apprentices, there would be a trained workforce of about 9mn youth and hiring 15% would generate a 13.5mm industry-ready workforce. In a way workforce of about 9mn youth and hiring 15% would generate a 13.5mn industry-ready workforce. In a way apprenticeships offer a way to connect education, skills and employment, enable employees and employees to find the best match and employability signaling value for youth in the job market.

The Sector Skill Councils will play an integral role in expanding the apprenticeship ecosystem. The Chief Executive Officer (CEO) of SSCs has been assigned the role of ‘Joint Apprenticeship Advisor’ (JAA) under the Apprentices Act, 1961. The major actions undertaken by SSCs are the identification of job roles (in close coordination with NSDC) in which apprenticeship can be made compulsory and optional respectively; preparation of new qualification packs based on the industry requirement, develop embedded and top up apprenticeship curricula; advocacy of apprenticeship in the industry; and empanelment of training providers. Apprenticeship Training is considered to be one of the most efficient ways to develop skilled manpower for the country. It provides for an industry led, practice oriented, effective and efficient mode of formal training. Target under the scheme shall be 5 lakh apprentices in 2016-17, 10 lakh apprentices in 2017-18, 15 lakh apprentices in 2018-2019 and 20 lakh apprentices in 2019-20. The engagement of fresher apprentices shall be 20% of total annual target.

In addition, one must note for India to become a global labor supplier, it will need world-class training institutions that can train workers to meet the standards of host countries. Since these candidates already have the technical know-how, the goal is to provide a training metaphor that encourages them to perform at their best and develop their leadership skills. Breakthrough preparation is the best type of preparation that focuses on inspiration and produces features that can provide the climber with an uplifting perspective. First and foremost, India needs a robust accreditation system. If the trainer does not participate in the audit mechanism, the training quality check should be outsourced to an independent organization. Additionally, training should be consistent and easily reproducible. Second, companies may be required by governments or their agencies to employ only certified employees And only industry leaders and experts should standardize these certifications. If these guidelines are followed and skills are delegated in a structured way, India will soon become a country of professionals. People are the only source of sustainable long-term competitive advantage, and this applies to both buyers and suppliers.

The Skilled Manpower is something that enhances and enables the youth to expand their business dynamics in profits not just on monetary terms but even more which will benefit the industry, and nation. Basically it is a requirement of the century.